Community Development Investment Pioneer Presents Equitable Vision of Capitalism

"A New Capitalism" by Frank Altman is released with Forbes Books

November 20, 2023 12:06 PM EST | Source: Agency 7 Inc.

New York, New York--(Newsfile Corp. - November 20, 2023) - The Launch of A New Capitalism: Creating a Just Economy That Works for All, by Frank Altman will be celebrated at NeueHouse with a panel of speakers including Altman. The book is published with Forbes Books, the exclusive business book publishing imprint of Forbes, and is available on Amazon.

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Frank Altman is taking modern capitalism to task. As founder and former CEO of Community Reinvestment Fund, USA and a pioneer of the community development and reinvestment industry, Altman's new book, A New Capitalism, examines our economy from several perspectives, including history, politics, culture, and economics. He also illuminates how systemic racism in policies like redlining endure despite attempts to eradicate them.

A problem-solver by nature, Altman's work isn't just analytical. Deploying innovative approaches, Altman has used capital markets to fund small businesses, affordable housing, charter schools, community organizations, and community transformation. His results are an object-lesson in how capitalism can be profitable while also being just.

"Today we stand at a unique moment of opportunity. There are trends that point to evolving American values in support of inclusion of those too long denied full participation in the marketplace and society itself," Altman said. "Stakeholders of all natures are placing new demands that markets act upon values of diversity, equity, inclusion, excellence, and sustainability. The long-held status quo belief that corporations must only focus on maximizing shareholder profits is eroding. We are living in a time when change feels possible and a new, more just form of capitalism is at hand."

About Frank Altman

Frank Altman is the founder and former CEO of Community Reinvestment Fund, USA, an innovative national Community Development Financial Institution committed to collaborating with others to fill gaps in access to capital and grow the capability of the industry. Altman led development of a secondary market for community and economic development loans. In partnership with a network of community partners, CRF has funded $2.4 billion in loans to small businesses, community facilities, charter schools, and affordable housing projects in forty-nine states.

Altman is a founding member and first President of the Board of Directors of the New Markets Tax Credit Coalition and helped spearhead the creation of a federal tax credit to encourage private investment in low-income communities. He is a member of the Center for Community Development Investors at the Federal Reserve Bank of San Francisco and an advisor to the Social Innovation Initiative at Brown University. He lives in Minneapolis.

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